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1. They have already bought from us, so providing they had a good experience, they might buy from us again. We also know that getting a new customer is much more expensive than selling to an existing customer, so by continuing to sell to them, we are really saving ourselves some money.
2. They can give us invaluable feedback on how we did. Was our service good enough? Did we delight them or were we 'just ok'. Did our product meet their expectations? Was it good value for money? And so on.
3. They continue to save us money because they should be our major source of referrals and new business. So through them, we get access to new clients who already know about us and have a positive opinion of what we do.
Most clients I meet are not leveraging their existing customer database, and by not doing so, are losing out on a cost effective source of potential new business. Many receive referrals - for which they are grateful - but it's not because they actively sought the referral, or had a strategy in place to ask for it.
Here are 8 ways to maximize the value from your most valuable asset:
Delight your Clients
For example, you think your loyal client could benefit from reading a section of your ebook or an article you've written? Surprise them and make it a gift. Sure, you could say, 'I'll give you a fifty percent discount.' Forego the money. Give your client a reason to stick around and spend a thousand dollars instead.
Personalise, personalise, personalise
Known variously as customer relationship management (CRM) and one-to-one marketing, personalisation is being practiced by businesses large and small across all sectors of the economy. The message here is simple: you want to lavish personal attention on customers who are going to reciprocate by being consistently good purchasers of your product or service.
Give these customers an incentive to share information about themselves that you can use when you contact them next. The more your customers feel as though you are treating them individually, the more likely they are to continue their relationship with you.
Provide Guarantees
Ask for Feedback
People will endorse your business not because they think it looks good, but because they know it is good. If they have problems with your services, customers are the best source of objective advice on how to make improvements. So have a process in place where you regularly ask them for feedback. And once they've given it to you, let them know how you are going to use it. They will begin to feel involved in your business, and are more likely to send other people your way.
Reward them for being Loyal
preferable rates for loyal customers
Keep in Touch
the best way to stay in contact (email, telephone, hardcopy newsletter etc)
Implement a Referral process
Thank them for referrals - every time
There are so many ways that we can go one step further with the people who already buy from us. Make this a focus of your marketing efforts and you will soon see the rewards come back in the form of increased referrals and increased sales.
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